Many people who become entrepreneurs or start their small businesses don’t think of how important business writing is. The truth is that you will have to write a lot: emails, marketing materials, blog posts, press releases, etc. It’s great if you have a team of experienced professional writers who can do this work for you.
However, many businesses don’t have the necessary budget so they need to deal with writing tasks without any help from professionals. Besides, you cannot delegate business writing to random people. They should understand the specifics of your brand and your products or services. Otherwise, their writing won’t be effective.
Here is one of the main features of business writing: it always has a particular purpose, whether it be communication, lead acquisition, increasing brand awareness, or helping people to use your products. To create effective textual content, you should take into account the purpose of this content and choose the right format, style, and structure.
Obviously, your writing should also be grammatically correct. Therefore, business writing can be quite challenging, but it doesn’t mean that you cannot improve your writing skills. You just should understand their importance.
If you google “how to improve business writing skills,” you will find thousands of suggestions, like “keep it simple,” or “avoid passive voice.” These are good suggestions. However, you won’t be able to improve your business writing if you simply follow random advice. You should understand what exactly you need to improve, and what your goals are. To improve, you must know where to start and in what direction you should move. Fortunately, no matter what your niche is, the following rules will help you get started.
● Set clear objectives
You should know exactly what you’re going to write, and how you’re going to use it.
● Focus on your readers
To make your writing effective, you must understand the needs, interests, and preferences of your readers. The better you understand them, the more effective your writing.
● Develop your writing process
If you just stare at a blank page for a few minutes and then start to write whatever comes to your mind, this approach will unlikely bring any good results, especially if you’re working on complex documents. A much better method is to break your task into smaller and simpler steps.
● Be aware of the common writers’ problems
To improve your writing skills, you need to understand not only what good writing looks like but also what mistakes writers make. This way, you’ll be able to avoid such mistakes. Obviously, the most common problems are grammar and punctuation. However, even if your text is grammatically correct, it may still be poorly structured, too wordy, boring, or difficult to comprehend.
Top 5 Tips to Master Business Writing
1. Think before you start to write
First of all, you should clearly understand the purpose of the text that you’re going to write. You should also think of your target audience, and you must determine your key message. To convey a clear message, you must make sure that it’s logically structured and easy to understand.
To create well-structured and logically coherent text, you should prepare for the writing process. We recommend that you just take a pause and jot down some key ideas. Determine in what order you should mention them to make your text most effective. Depending on your objectives, you may also choose calls to action or keywords.
2. Write an outline
If you want your writing to be clear and well-structured, you should prepare carefully. We recommend that you write an outline. It will help you figure out what the structure of your text will look like, and it will keep you focused on the necessary topic or message while writing. In the outline, you can formulate the main idea and jot down the main points you’re going to make. If you stick to your outline when writing, your text will be better organized and therefore easier to understand.
3. Be straightforward
When dealing with business writing, always follow the “first things first” rule. Put the most important information or message at the beginning. When you present the main ideas first, your readers can immediately understand what you’re talking about. Besides, you can have some time to work on your argument before getting into the details. Keep in mind that, if you don’t grab your readers’ attention at the very beginning, they may not be interested in reading the rest of your content.
4. Avoid jargon and buzzwords
Business writing should be industry-relevant. However, you must make sure that even people who are not familiar with your niche will be able to understand the advantages of your products or services. We suggest that you don’t use industry-specific acronyms and various buzzwords. Even though these words may seem helpful, the truth is that they hurt the clarity of your content.
For instance, we recommend that you avoid such words as “incentivize,” “recontextualize,” “strategic dynamism,” “impactful,” “rightsized,” “utilization,” etc. Instead, try to express your thoughts using simple words so that readers can understand you immediately.
As a way of improving your business writing skills, you can hire an essay writing service to get a sample of well-written paper. By reading the work of a professional writer, you may learn what your own paper should look like.
If you’re new to writing services, LegitWritingServices.com compiled the list of the most renowned essay writing companies on Reddit that can tackle business writing tasks. So if you want to improve your business writing skills by learning from the pros, go ahead and pick a writing service that suits your needs best.
The more you write, the better writer you become. It’s impossible to improve your business writing skills without actually writing business documents, emails, proposals, etc. We also recommend that you read reputable business-related journals and magazines to improve your vocabulary.
When writing, keep in mind that the first draft won’t be perfect. Therefore, you should practice not only writing but also editing and proofreading. It’s also important to clearly understand your brand’s image and values to make sure that your writing style is consistent and relevant.
Although business writing may seem difficult, you can master it if you dedicate enough time to it and have enough practice. We hope that our simple tips will help you better understand what business writing looks like and what its purposes are. The most important things about business writing are that it should be clear, concise, and straightforward. It should also be effective so make sure to clearly determine your goals before you start to write.
Uganda Can Rein in Debt by Managing its Public Investments Better
In the wake of a waning COVID-19 (coronavirus) pandemic and upon full re-opening of the economy, optimism—regarding expected acceleration of growth and a clearer outlook for oil production with the signing of the Final Investment Decision in February 2022—has been dampened by new global shocks, including the impacts of the war in Ukraine.
The 19th edition of the Uganda Economic Update (UEU): Fiscal Sustainability through Deeper Reform of Public Investment Management, a biannual analysis of Uganda’s near-term macroeconomic outlook, estimates growth at 3.7 percent in 2022, which is lower than pre-COVID-19 projections of over 6 percent. Uganda’s gross national income per capita stood at about $840 in FY21 and has increased only marginally in the year since.
Real gross domestic product grew by 4.3 percent in the first half of 2022 supported by a strong and speedy recovery of the service sector upon the opening of the leisure and entertainment industry, accommodation, and food services, as well as sustained buoyancy of the information and communications sector. The report projects a 5.1 percent growth rate in FY23, 0.5 percentage point below the December 2021 forecast, increasing to about 6 percent in FY24.
“Rising commodity prices and the overall increase in cost of living pose new risks to livelihoods, that had just begun recovering from the effects of COVID-19. These and other shocks are threatening to stall socio-economic transformation, thus increasing the likelihood of the people falling deeper into poverty,” said Mukami Kariuki, World Bank Country Manager for Uganda. “It is therefore crucial for the Government of Uganda to adopt targeted interventions to support the vulnerable while managing debt and rising inflation.”
The UEU proposes four policy actions that will enable Uganda to sustain a resilient and inclusive recovery: i) accelerate vaccination efforts against COVID-19; ii) adopt targeted interventions to support the vulnerable – such as building shock responsive social protection systems; iii) maintain prudent fiscal and debt management to support the fiscal consolidation agenda; and iv) cautious monetary tightening in the face of rising inflationary pressures.
The report also recommends accelerating longer term structural reforms to (i) strengthen revenue mobilization through the implementation of the Domestic Revenue Mobilization Strategy; (ii) improve public investment management; (iii) rationalize public expenditure to support faster, sustainable, and inclusive growth by investing strongly in human capital development; and (iv) improve the trade and business environment and enable green investments.
The UEU notes that fiscal consolidation is needed to rein in debt and to create the necessary space to respond to shocks that could hurt or stall recovery. This can be done through better Public Investment Management (PIM) building on important reforms that have been undertaken by the government. The benefits of these efforts are starting to show.
“Uganda has a great opportunity to harness Public Investment Management by making sure that beyond preparing good projects, effort is also directed at ensuring that they are efficiently funded, implemented, monitored, operated, maintained, and evaluated. These steps ensure that the country can reap the maximum value of public investments,” said Rachel Sebudde, World Bank Senior Economist and the lead author of the Uganda Economic Update. “Strategic capacity building for government officials is crucial as it will improve the Ministries, Departments and Agencies’ effectiveness across the PIM cycle.”
Notwithstanding the progress achieved in the PIM process, key challenges remain. These include low execution rates on donor and own-budget projects; long implementation delays; cost- and time-overruns on projects; and high commitment fees in the case of non-concessional externally funded projects. Overall, the improvements around the administrative processes of the pre-investment phase of PIM are being discounted by challenges in critical areas, including project prioritization and selection, budgeting, and implementation.
Cambodia’s Economy Growing but Must Weather Oil Price Shock
Cambodia’s economy will grow by 4.5 percent in 2022, according to the latest World Bank projections. Weathering the Oil Price Shock, the Bank’s June 2022 economic update for Cambodia, shows that while domestic economic activity and goods exports continue to recover from the slowdown caused by COVID-19, growth remains uneven, with the war in Ukraine driving inflation.
The report shows that during the first quarter of 2022, goods exports rose to $4.8 billion, up by 26 percent on last year. Traditional growth drivers, especially garments, travel goods, and footwear continue to expand but newer manufacturing industries, such as for electrical and vehicle parts, are also emerging, while exports to the US are surging.
Although domestic economic momentum is strong, recovery is held back by deteriorating global demand. Rising global energy and food prices are fueling higher inflation, and in Cambodia, poor and vulnerable households with limited savings are likely to bear the brunt of the oil price shock. The fiscal deficit is expected to widen to 6.3 percent of GDP, as the government will need to continue spending programs to support the poor.
“The government’s Living with COVID-19 strategy has allowed Cambodia to reopen, enabling economic recovery,” said Maryam Salim, World Bank Country Manager for Cambodia. “However, the road ahead remains unclear. Rising energy and food prices due to the war in Ukraine are imposing additional burdens on the poor, and this will slow the pace of poverty reduction. The government’s cash transfer program, which has been vital to poor households during the pandemic, will continue to be needed.”
Over the medium term, the economy is expected to grow at around 6 percent annually, with the new investment law, together with free trade agreements, helping to boost investment and trade. The report recommends policies that can help sustain economic recovery. These include continued efforts to contain COVID-19 infection, strengthening consumer and investor confidence, promotion of exports, particularly in agricultural commodities, by facilitating trade and reducing the costs of doing business, and stabilization of retail prices.
The report also includes a special focus section on post-pandemic supply chain disruptions. It suggests strategies for reducing logistic costs and emphasizes that efforts to increase Cambodia’s trade competitiveness and enhance its connectivity will require a systematic approach that goes beyond improvement of physical assets. Efforts are needed to strengthen the entire supply chain by monitoring the efficiency of trade gateways and routes, expanding the “Best Trader scheme” to the wider logistics sector, developing a longer-term business plan for railways, and establishing the “Roadwatch,” hotline, through which traders and citizens can report irregularities. Implementing these reforms will require an institutional approach and a lead government agency that can oversee logistics development at the national and gateway levels.
The Cambodia Economic Update is a biannual report that provides up-to-date information on short- and medium-term macroeconomic developments in Cambodia.
Circular Economy Key to Supporting Thailand’s Resilient Recovery
Thailand’s economy is expected to expand by 2.9 percent in 2022, supported by private consumption and tourism recovery. However, negative spillovers from the war in Ukraine and lockdown in China highlights Thailand’s oil dependence and vulnerability to global supply chain disruptions. Adopting a more circular economy approach can help promote growth that is more sustainable and more resilient to external shocks, according to the Thailand Economic Monitor published today.
The economy is expected to gain momentum in the second half and reach pre-pandemic levels in the fourth quarter of 2022, given the decline in COVID-19 cases and the further relaxation of border restrictions in Thailand and other countries. Tourist arrivals are projected to increase to 6.0 million arrivals in 2022, up from 0.4 million in 2021, and reach 24 million, or around 60 percent of pre-pandemic levels, by 2024. As a result, growth of 4.3 percent and 3.9 percent is projected for 2023 and 2024, respectively.
Headline inflation is projected to stay at a 14-year high over the course of 2022 at 5.2 percent, with core inflation at 2.3 percent. Exports of goods are expected to grow at 4.1 percent in 2022, slowing down after a strong outcome in 2021 at 18.8 percent, reflecting the softening global demand, and the prolonged global supply chain disruptions.
“As Thailand moves into the recovery phase, it will be important to make progress on fiscal consolidation while rebalancing public spending towards public investment to help support the government’s vision to build back better and greener,” said Kiatipong Ariyapruchya, Senior Economist for Thailand, World Bank.
According to the report, the war in Ukraine may aggravate poverty in Thailand through high food and energy prices. The World Bank estimates that a 10 percent increase in the global prices of food would raise the poverty rate by 1.4 percentage points and an increase of 10 percent in energy prices would raise the poverty rate by 0.2 percentage points.
Economic modeling suggests that an accelerated transition towards a circular economy could boost output and jobs, increase GDP by about 1.2 percent and create nearly 160,000 additional jobs by 2030, representing about 0.3 percent of total employment. It can also contribute to taming high and volatile commodity prices, and reduce greenhouse gas emissions by about 5 percent by 2030.
“With rising demand for resources in the domestic market, Thailand could add the circular economy approach to the pool of policy solutions that can decouple growth from a resource-intensive economy,” said Jaime Frias, Senior Economist, World Bank. “A concerted public and private response, along with targeted reforms, will be necessary to unlock Thailand’s potential in this area.”
The report recommends several actions to support the circular economy in Thailand including awareness building on resource intensity, pollution, and resource degradation in the country. Along with this intervention, building institutional capacity and inter/intra agency coordination is a must, as well as providing a supporting framework to share knowledge and innovation and create further incentives for businesses to adopt circular business models. This involves incorporating circular economy into public procurement, developing sector-specific road maps, providing physical and digital infrastructure, and creating business support schemes.
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